Annual cost of tax plan seen hitting $350 million

12:51 AM,
Feb. 27, 2013

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The debate over Gov. Terry Branstad's latest plan for property tax reform finally has some numbers to go along with the rhetoric.

The Legislature's nonpartisan staff provided projections Tuesday to the House panel considering the reform package, which would dial down the tax rates paid by commercial and industrial property owners and limit the annual growth in property taxes for all payers.

According to the Legislative Service Agency figures, the reform package would cost between $350 million and $390 million a year once fully enacted in 2018 and reduce the taxable value of properties ...